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Associated Press
14 hours ago
- Business
- Associated Press
LOTTE BIOLOGICS Signs Antibody Manufacturing Contract with Ottimo Pharma
SEOUL, South Korea, June 18, 2025 /PRNewswire/ -- LOTTE BIOLOGICS announced on June 19, 2025 that it has signed a contract manufacturing agreement for antibody therapeutics with Ottimo Pharma, a biopharmaceutical company developing first-in-class, one-of-a-kind PD1/VEGFR2 dual pathway antibodies to extend the lives of people living with cancer. The signing ceremony took place at the LOTTE BIOLOGICS booth within the Boston Convention and Exhibition Center, where BIO INTERNATIONAL 2025 is being held. Through this agreement, LOTTE BIOLOGICS will produce antibody drug substance for Ottimo Pharma's Jankistomig at its Syracuse Bio Campus in New York. James Park, CEO of LOTTE BIOLOGICS, stated, 'This agreement serves as further validation of our competitiveness as a CDMO in the global antibody therapeutics market. We will continue striving not only to supply high-quality medicines that meet global standards, but also to become a company that delivers greater value to both our partners and patients.' Joseph Shultz, Vice President Technical Development & Manufacturing at Ottimo PHARMA said, 'This manufacturing collaboration marks a significant milestone in our commitment to advancing Jankistomig with speed and precision. Partnering with Lotte's proven biomanufacturing capabilities enhances our operational readiness and supports our rapid path to IND submission and clinical trial initiation.' LOTTE BIOLOGICS currently provides CDMO services at its Syracuse Bio Campus, ranging from cell line development to large-scale contract manufacturing of biopharmaceuticals. Additionally, the company aims to begin operation of Plant 1 at its Songdo Bio Campus in 2027. Plant 1 will be a large-scale biopharmaceutical manufacturing facility with a production capacity of 120,000 liters, enabling the company to handle major global contracts. Recently, LOTTE BIOLOGICS has been broadening its partnerships with various global biopharmaceutical companies across Asia and Europe. Centered around its two production hubs in North America and Asia, the company is solidifying its position in the CDMO market not only for antibody therapeutics but also for ADC modalities. LOTTE BIOLOGICS aims to secure clients by providing an integrated service through collaboration, delivering superior and trustworthy solutions. Furthermore, to provide client-specific end-to-end services, LOTTE BIOLOGICS has entered into strategic collaborations with global contract development organizations (CDOs) and drug product (DP) companies. Through these partnerships, it offers fully customized CDMO solutions spanning early drug development to commercialization. About LOTTE BIOLOGICS Headquartered in Seoul, South Korea, LOTTE BIOLOGICS was founded in 2022 with a mission to deliver therapies that contribute to a healthier world. At the Syracuse Bio Campus in New York, LOTTE BIOLOGICS provides high-quality GMP manufacturing services for drug substances. The facility offers a total production capacity of 40,000L, supported by eight 5,000L stainless steel bioreactors. Additionally, the campus includes extensive analytical QC testing laboratories and warehouse facilities that have received approval from over 62 regulatory agencies worldwide. LOTTE BIOLOGICS is also advancing into a new area of expertise with Antibody-Drug Conjugates (ADCs) conjugation services. With over $100 million invested in ADC modalities, including both drug substance and conjugation capabilities on-site, we offer a seamless, end-to-end service from drug substance manufacturing to conjugation. Looking ahead, LOTTE BIOLOGICS is constructing three advanced bio plants in Songdo, South Korea. With construction of the first plant already underway and expected to be operational by 2027, each facility will feature eight 15,000L stainless steel bioreactors for large-scale commercial production to meet production needs. Collectively, these plants will provide a manufacturing volume exceeding 360,000L in bioreactor capacity. More information about LOTTE BIOLOGICS, please visit: View original content to download multimedia: SOURCE LOTTE BIOLOGICS
Calgary Herald
07-05-2025
- Business
- Calgary Herald
Canadians are bracing for more food inflation amid U.S. trade war: new report
This advertisement has not loaded yet, but your article continues below. Despite continued affordability concerns, trust in all food institutions increased, the second issue of the Canadian Food Sentiment Index shows Nearly 85 per cent of respondents reported that food prices have increased over the last 12 months. Photo by James Park/Postmedia News Food prices remain top of mind for many, according to the second issue of the bi-annual Canadian Food Sentiment Index by Dalhousie University's Agri-Food Analytics Lab (AAL). THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Calgary Herald ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Calgary Herald ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Nearly 85 per cent of respondents reported that food prices have increased over the last 12 months. There was also a 'dramatic' shift of perception in where food inflation might be headed over the next year. In the face of trade-war uncertainty, more than one in four Canadians are bracing for double-digit inflation. Respondents expecting 'more than 10 per cent' inflation jumped from 18.6 per cent in fall 2024 to 28.5 per cent in spring 2025. Your weekday lunchtime roundup of curated links, news highlights, analysis and features. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again 'It's not surprising that food is still a very big concern, and I think that's important in itself because we have been focused on affordability of food for quite some time,' says Stacey Taylor, an assistant professor of business analytics at Cape Breton University and one of the report's authors. Based on responses from roughly 3,000 respondents across the country every six months, the Canadian Food Sentiment Index was inspired by Purdue University's Consumer Food Insights report on Americans. The index measures Canadians' perceptions and attitudes on issues ranging from food affordability to consumer trust. According to the Canadian Food Sentiment Index, people are most concerned about the rising cost of food, leading all categories, including housing, utilities and transportation. 'Six months ago, most people believed we were seeing the light at the end of the tunnel: 'It's almost over. Everything is going to return to normal.' But then, we surveyed people again in March and saw that, so, no. It's not going anywhere,' says Armağan Özbilge, another of the report's authors and an assistant professor in Dalhousie University's Faculty of Management. As long as the trade war continues, Özbilge expects worries to persist. And though we won't necessarily see a 10 per cent increase, some foods, such as fruit, will be 'significantly more expensive.' The pessimistic outlook shared by some Canadians is a valid one. Though food inflation stabilized in 2024, Sylvain Charlebois, senior director of the AAL and author of the report, predicts an increase. 'We're expecting things to get a little dicey for consumers this year compared to last year, but we're not going to go back to the 10 or 11 per cent that we saw a few years ago because of the illegal invasion of Ukraine.' In contrast to claims of greedflation and price gouging during 2023's affordability crisis, the Canadian Food Sentiment Index suggests that consumers' wariness of grocers may be in the rearview mirror. Trust in all food institutions increased from fall 2024 to spring 2025. Independent grocers experienced the largest gain, but confidence increased across the board, from major grocers and food manufacturers to farmers' market merchants and government agencies. They're not huge increases, highlights Taylor, but represent a positive shift. '(Trust) is going to be really important, especially now with what's going on with the trade wars and the continued inflation.' This advertisement has not loaded yet, but your article continues below. Faith in independent grocers, in particular, indicates that people are starting to think about where they're buying their food — not just what they're purchasing, says Charlebois. 'Independents have struggled the last little while. People are paying more attention to the smaller shops — the independently owned and the Canadian-owned shops — that are out there offering unique and innovative products.' Charlebois adds that getting in front of consumers can be challenging for food entrepreneurs. 'It's always tough to deal with larger grocers. If you have independents willing to give it a shot, that's good news for innovation. That's good news for variety and consumers.' According to the report, 10 per cent of respondents buy local foods more often than they did six months ago, which the authors attributed in part to the availability of spring produce as well as the 'Buy Canadian' movement. Nearly half (43.5 per cent) choose local foods always or often. 'People are seeking more Canadian food. More people are checking the origin of the items they're purchasing,' says Özbilge. Taylor adds: 'Never in my life have I seen such patriotism in Canada, and it's really coming through in all that we're doing. And so it's great to see, certainly, when people go to the grocery store and see that 'made in Canada,' or '100 per cent Canadian-made' or whatever it may be. It focuses their attention on where their food is coming from, and I don't think that's ever a bad idea.' Affordability (42 per cent) remains the leading factor driving food purchases, followed by nutrition (25 per cent) and taste (18 per cent). Respondents are checking best-before dates more often, and on the sustainability front, recycling food packaging increased, and reducing food waste at home improved. 'Sustainability is getting back to people's minds as they're trying to shake off this monetary pressure,' says Özbilge. He notes that many people misunderstand best-before dates. They're an indicator of food quality — not food safety. 'When I see those trends, they're minimal, but I think they might be meaningful towards reducing waste.' The report suggests that spending on food service is increasing year-over-year (+3.8 per cent) while retail is decreasing (-0.58 per cent). Canada is a world leader in remote work, Charlebois underscores. Full-time employees spend nearly two days a week at home, according to the Global Survey of Working Arrangements. He sees the uptick in service as a sign that even when working remotely, there's a desire to go to coffee shops or restaurants to socialize, which could create opportunities for establishments in the suburbs versus downtown cores. Compared to fall 2024, more people are buying in bulk and opting for generic or store brands over brand-name products. The Canadian Food Sentiment Index also shows an increase in purchasing grass-fed beef and cage-free eggs. The popularity of the omnivorous diet (no specific restrictions) dropped, while others, including flexitarian (primarily plant-based with occasional consumption of animal products), paleo, vegan and keto, increased. Despite its emphasis on affordability and expectations of double-digit inflation, the Canadian Food Sentiment Index suggests many are taking a holistic view — not just focusing on pocketbook issues. 'I think this report indicates the end of the food inflation storm we've been in for the last few years,' says Charlebois. 'People are starting to think about what they're eating again instead of just trying to survive.' Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our cookbook and recipe newsletter, Cook This, here.
Korea Herald
24-04-2025
- Business
- Korea Herald
Lotte Biologics kicks off ADC service at Syracuse plant
Lotte Biologics announced on Thursday that it has signed a manufacturing deal with a biotech firm based in Asia to produce a clinical-stage antibody-drug conjugate candidate. The deal represents the first major milestone in launching full-scale operations at the company's ADC manufacturing facility, located at the Syracuse Bio Campus in the US state of New York, an expansion project that began in 2023. Through the contract, Lotte Biologics is officially introducing its ADC contract development and manufacturing services, tailored to support clients across all stages, from clinical trials to commercial-scale production. "With this contract as a starting point, we will ensure a stable supply of high-quality ADC therapeutics and solidify our position in the global market, not only as an antibody manufacturer, but also as a CDMO specializing in ADCs,' Lotte Biologics CEO James Park said. 'We also plan to actively pursue partnerships to further strengthen our competitiveness in the ADC modality business." Lotte Biologics will continue to seek new clients and expand its collaborative efforts, aiming to provide integrated, one-stop solutions for ADC development and production, the firm said. Developed with an investment of around $100 million, Lotte Biologics' ADC facility meets the current Good Manufacturing Practices of the US Food and Drug Administration and delivers comprehensive end-to-end manufacturing services. The facility includes a fully integrated production and purification system, featuring a conjugation reactor capable of handling up to 1,000 liters. It also offers in-house quality control testing and advanced analytical characterization services. Additionally, the site is outfitted with a single-use system that supports the entire workflow — from antibody preprocessing to the automated aseptic filling of drug substances — allowing for flexible and efficient service tailored to diverse client requirements.
